Intraday trading is also a very difficult task and the most significant difficulty in intraday trading is to choose the right stock.
No matter how big the market is, any day you sit for intraday trading, you will find that there are only a handful of stocks in which money is made.
And in all the rest of the shares, nothing is felt except loss.
Now how to find out these handful of shares is the biggest challenge. Intraday Trading In, how to choose the right shares?
So to know this read the Hindi article till the end.
How to choose a good stock?
Hard work is the key to success in intraday. That is, how well you have prepared on the previous day, decides how successful you are in intraday.
There are many traders who sit for intraday trading and do not do any preparation before that and as a result, they get defeated in the market every day.
If you want to make money in intraday trading, then remember that the previous day has to be hard work.
Success comes in the stock market when you work hard, work hard, and do your homework.
For intraday trading, you have to do homework and let us know how it is done.
How to select intraday stocks?
First of all, understand that for success in intraday, a top-down approach has to be used, a bottom-up approach does not work in intraday.
Now understand what the approach is and how it is adopted.
If you directly access the shares, then it is called bottom-up but if you select the sector first and then the shares then it is called top-down.
To be successful in intraday one has to use top down approach.
Most important for intraday success is the previous day’s homework.
Prepare a list of all the sectors like IT, Banking, Media, Telecom, and Finance, and prepare a list of all the sectors.
And write next to each sector, whose is the best daily chaat of this sector at the moment.
That is, see the daily chart after the market closes, remember that intraday trading is done by looking at the intraday chart, i.e. charts like 15 min 30 min are seen intraday.
But homework is done through the daily chart, so after the market closes, see the daily chart choose the best stock of each sector, and write it in this list.
| Sector | Stocks | Best chart of the day |
|---|---|---|
| IT | Infosys TCS HCL Technologies Wipro | IT See chart of best stocks of the day (Wipro) |
| Pharma | Cipla Divi’s Laboratories Dr. Reddy’s Laboratories Sun Pharmaceutical Industries | – |
| Bank | Axis Bank Kotak Mahindra Bank HDFC Bank ICICI Bank | Bank See the chart of best stocks of the day (HDFC Bank) |
| Metal | Hindustan Zinc Tata Steel Ltd JSW Steel Vedanta Ltd | – |
If you try this hard work daily, you will get to see the difference between land and sky in your performance in intraday trading.
Making a list is not a difficult task, write all the sectors on one side and then find all the charts of that sector.
The best chart of that sector is visible to the best chart, just assume that if the move is seen in that sector in intraday then we will work in this stock.
In this way, the stock selection is done properly.
Remember that if the turn of the sector is not coming from the lion you have chosen, then you do not have to trade in it.
Try this small change in your intraday trading style and you will see that the fastest growing city of the day will be in your hands.
Tried a recipe through which it takes four moons in intraday trading, see, a little hard work will have to be done daily, but then you will see big success.
How to select intraday share Book
If you want to know more about how to pick intraday shares then you can read this book.
Conclusion
Your hard work has a big role in trading and you will see the results in the same proportion as you work hard.
Then see, you will have to struggle to choose the best stock among so many shares.
Remember, before the market opens, do not forget to refer to the daily charts of the previous day and try to find the intraday winners for the next day through the patterns being formed in them.
Gradually with practice, you will start reaching the right stock.
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FAQ
How to choose intraday stocks?
The top-down approach has to be used to pick stocks in intraday.
Which stock to buy in intraday?
The best chart of that sector is visible to the best chart, just assume that if the move is seen in that sector in intraday then we will work in this stock.
How to know a day in advance that the price of which stock can go up?
That is, see the daily chart after the market closes, remember that intraday trading is done by looking at the intraday chart, i.e. charts like 15 min 30 min are seen intraday.